What is another word for externality?

Pronunciation: [ɛkstˈɜːnˈalɪti] (IPA)

The word "externality" can be defined as the unintended consequence of an economic transaction that affects a third party. There are several synonyms for this word, including spillover, side effect, ripple effect, knock-on effect, or unintended consequence. These words all imply that an action can have an impact beyond the individuals directly involved in the transaction. For example, pollution from a factory can have a spillover effect on local residents' health or the environment. Similarly, a new road can have ripple effects on nearby property values and traffic patterns. Understanding these externalities is critical in economics, as they can affect the efficiency of markets and the allocation of resources.

What are the paraphrases for Externality?

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What are the hypernyms for Externality?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.
  • hypernyms for externality (as nouns)

What are the hyponyms for Externality?

Hyponyms are more specific words categorized under a broader term, known as a hypernym.

What are the opposite words for externality?

Externality refers to a situation where the costs or benefits of an economic activity are borne by people who are not directly involved in the activity. Antonyms for externality include 'internalization,' 'inclusion,' and 'accountability.' Internalization refers to the inclusion of all costs and benefits of an economic activity within the activity itself. Inclusion means that all people who are affected by an economic activity are considered in the decision-making process. Accountability means that those who engage in an economic activity are held responsible for the impact it has on others. These antonyms represent the opposite of externality and show the importance of considering the wider impact of economic activities.

What are the antonyms for Externality?

Usage examples for Externality

This strain of European thought found some expression in the philosophy of Hegel according to whom "human institutions belong to the region not of inert externality, but of mind and purpose and are therefore dynamic and self-developing."
"Freedom Through Disobedience"
C. R. (Chittaranjan) Das
It is clear that the whole matter of revelation is thus apprehended by Kant with more externality than we should have believed.
"Edward Caldwell Moore Outline of the History of Christian Thought Since Kant"
Edward Moore
In point of externality there was not much to choose between views which were felt to be radically opposed the one to the other.
"Edward Caldwell Moore Outline of the History of Christian Thought Since Kant"
Edward Moore

Famous quotes with Externality

  • ...bums and inferior people will likely support his egalitarian policies, whereas geniuses and superior people will not. For [this] reason...a democratic ruler undertakes little to actively expel those people whose presence within the country constitutes a negative externality (human trash which drives individual property values down).
    Hans-Hermann Hoppe

Related words: externality theory, externality in marketing, externality meaning, externality cost, externality definition, free market externality

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